5 Written questions
5 Matching questions
- Daily journal
- Disbursement journal
- Disbursement journals must show
- Accounts payable
- a Supporting other documents or records.
- b Debts incurred and not yet paid.
- c usually consists of a section at the bottom of each day sheet and a check register page at the end of each month, plus monthly and annual summaries.
- d - Every amount paid out.
- Date and check number.
- Purpose of the payment.
- e is the chronological record of the practice.
5 Multiple choice questions
- recording, classifing, summarizing, and interpreting financial statemends.
- Federal Unemployment Tax Act
- is a record that is used to make payments.
5 True/False questions
Balance sheet → A financial statement for a specific date that shows the total assets, liabilities, and capital of the business.
amount sufficient for the petty cash fund. → $25 to $50
Single-entry systems require → is very basic and usually is used in small business. They are inexpensive, easy to us, and require lettle training.
The best way to begin a budget is to look at the expenses from the → previous year
Statement of income and expense → A summary of all income and expenses for a given period.